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V0524-15 ·9 February 2015 ·consulta-vinculante Medium impact
Tax

Impairment of inventories is deductible for Corporate Tax if accounted for under the PGC and facts are proven

A real estate company inquires whether it can deduct the impairment of a plot of land recorded as inventory and which valuation methods are valid. The DGT rules that the expense is deductible if it complies with the accounting criteria of the PGC and the ICAC consultation, and analyses the VAT and Personal Income Tax implications resulting from the allocation of assets in liquidation.

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2015-02-09PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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